SecuritiesSettlementTransactionInstructionV09

Scope
An account owner sends a SecuritiesSettlementTransactionInstruction to an account servicer to instruct the receipt or delivery of financial instruments with or without payment, physically or by book-entry.
The account owner/servicer relationship may be:
- a global custodian which has an account with a local custodian, or
- an investment management institution which manages a fund account opened at a custodian, or
- a broker which has an account with a custodian, or
- a central securities depository participant which has an account with a central securities depository, or
- a central securities depository which has an account with a custodian, another central securities depository or another settlement market infrastructure, or
- a central counterparty or a stock exchange or a trade matching utility which need to instruct the settlement of transactions to a central securities depository or another settlement market infrastructure.

Usage
The instruction may be linked to other settlement instructions, for example, for a turnaround or back-to-back, or other transactions, for example, foreign exchange deal, using the linkage functionality.
The message may also be used to:
- re-send a message previously sent,
- provide a third party with a copy of a message for information,
- re-send to a third party a copy of a message for information using the relevant elements in the Business Application Header.

Message Identifier: sese.023.001.09

Elements

Name	Type	Multiplicity	Definition
TransactionIdentification	Max35Text	[1..1]	Unambiguous identification of the transaction as known by the instructing party.
SettlementTypeAndAdditionalParameters	SettlementTypeAndAdditionalParameters19	[1..1]	Provides settlement type and identification information.
NumberCounts	NumberCount1Choice	[0..1]	Count of the number of transactions linked.
Linkages	Linkages54		Link to another transaction that must be processed after, before or at the same time.
TradeDetails	SecuritiesTradeDetails97	[1..1]	Details of the trade.
FinancialInstrumentIdentification	SecurityIdentification19	[1..1]	Financial instrument representing a sum of rights of the investor vis-a-vis the issuer.
FinancialInstrumentAttributes	FinancialInstrumentAttributes91	[0..1]	Elements characterising a financial instrument.
QuantityAndAccountDetails	QuantityAndAccount79	[1..1]	Details related to the account and quantity involved in the transaction.
SettlementParameters	SettlementDetails164	[1..1]	Parameters which explicitly state the conditions that must be fulfilled before a particular transaction of a financial instrument can be settled. These parameters are defined by the instructing party in compliance with settlement rules in the market the transaction will settle in.
StandingSettlementInstructionDetails	StandingSettlementInstruction16	[0..1]	Specifies what settlement standing instruction database is to be used to derive the settlement parties involved in the transaction.
DeliveringSettlementParties	SettlementParties76	[0..1]	Identifies the chain of delivering settlement parties.
ReceivingSettlementParties	SettlementParties76	[0..1]	Identifies the chain of receiving settlement parties.
CashParties	CashParties36	[0..1]	Cash parties involved in the transaction if different from the securities settlement parties.
SettlementAmount	AmountAndDirection94	[0..1]	Total amount of money to be paid or received in exchange for the securities.
OtherAmounts	OtherAmounts39	[0..1]	Other amounts than the settlement amount.
OtherBusinessParties	OtherParties33	[0..1]	Other business parties relevant to the transaction.
AdditionalPhysicalOrRegistrationDetails	RegistrationParameters6	[0..1]	Information for registration or physical settlement.
SupplementaryData	SupplementaryData1		Additional information that cannot be captured in the structured elements and/or any other specific block.

Validation Rules

AdditionalPhysicalOrRegistrationDetailsRule: If AdditionalPhysicalOrRegistrationDetails is present, then the instruction must be free of payment.

CurrencyToBuyRule: If CurrencytoBuy is present then the instruction must be a delivery.

CurrencyToSellRule: If CurrencytoSell is present then the instruction must be a receive.

SettlementAmountRule: If the instruction is against payment, then SettlementAmount must be present.

PairOffTurnRule: If LinkedQuantity is present in minimum one occurrence of Linkages, then the type of settlement transaction must be a pair-off or a turnaround, that is, SettlementDetails SettlementTransactionTypes must be PAIR or TURN.

ReceivingDepositoryAndParty1Rule: If the instruction is a delivery and no standing settlement instruction applies, then ReceivingDepository and Party1 must be present. .

DeliveringDepositoryAndParty1Rule: If the instruction is a receive and no standing settlement instruction applies, then DeliveringDepository and Party1 must be present.

SellerSSIRule: If standing settlement instruction applies and the instruction is a receipt, then Seller must be present.

BuyerSSIRule: If standing settlement instruction applies and the instruction is a delivery, then Buyer must be present.

SecuritiesFinancingSettlementRule: In the framework of Securities Financing (repo, reverse repo, sec lending, sec borrowing), the SettlementInstruction can only be used for the plain vanilla settlement of the opening leg and closing leg.

BuyToCoverRule: If SettlementParameters/SettlementTransactionCondition BuyToCover (BUTC) is present then at least one Linkage must be present with the reference of the sell instruction (may be more than one) to be covered by the concerned buy.

RegistrationDetailsRule: If SettlementParameters/Registration is present with code YREG (Registration to take place), then additional registration details must be specified in the AdditonalInformation/RegistrationDetails field of the Party (Receiving or DeliveringSettlementParties) under whom the registration must take place, unless this information is already available at the account servicer via standing instruction/SLA.

LinkageGuideline: Global market practice rules on the use of the linkages exists for various business scenarios such as cancellations, settlement confirmation but also more complex processes like pair-off, back-to-back, block trades, sell-buy back, buy-sell back, securities lending and borrowing. For more details, see the relevant market practice documents on www.smpg.info.

SecuritiesMarketPracticeGroupGuideline: The Securities Market Practice Group (SMPG) has published market practice recommendations on the use of this message. These market practices are available on www.smpg.info.

TwoLegTransactionOpeningClosing2Rule: For settlement of two part transactions (buy-sell back, sell buy-back, collateral in and out), the opening/initiation and closing/return of the transaction is instructed by sending the following combination of SettlementTypeAndAdditionalParameters/SecuritiesMovementType codes and SettlementParameters/SecuritiesTransactionType codes: Sell-Buy Back: Sell SettlementTypeAndAdditionalParameters/SecuritiesMovementType: Delivery (DELI) SettlementParameters/SecuritiesTransactionType: SellBuyBack (SBBK) Sell-Buy Back: Buy Back SettlementTypeAndAdditionalParameters/SecuritiesMovementType: Receive (RECE) SettlementParameters/SecuritiesTransactionType: SellBuyBack (SBBK) Buy-Sell Back: Buy SettlementTypeAndAdditionalParameters/SecuritiesMovementType: Receive (RECE) SettlementParameters/SecuritiesTransactionType: BuySellBack (BSBK) Buy-Sell Back: Sell Back SettlementTypeAndAdditionalParameters/SecuritiesMovementType: Delivery (DELI) SettlementParameters/SecuritiesTransactionType: BuySellBack (BSBK) Collateral (giver) Out Initiation SettlementTypeAndAdditionalParameters/SecuritiesMovementType: Delivery (DELI) SettlementParameters/SecuritiesTransactionType: CollateralOut (COLO) Collateral (giver) Out Return SettlementTypeAndAdditionalParameters/SecuritiesMovementType: Receive (RECE) SettlementParameters/SecuritiesTransactionType: CollateralOut (COLO) Collateral (taker) In Initiation SettlementTypeAndAdditionalParameters/SecuritiesMovementType: Receive (RECE) SettlementParameters/SecuritiesTransactionType: CollateralIn (COLI) Collateral (taker) In Return SettlementTypeAndAdditionalParameters/SecuritiesMovementType: Delivery (DELI) SettlementParameters/SecuritiesTransactionType: CollateralIn (COLI).

TwoLegTransactionOpeningClosing1Rule: For settlement of two part transactions (Securities Financing), the opening/initiation and closing/return of the transaction is confirmed by sending the following combination of TransactionIdentificationDetails/SecuritiesMovementType codes and SettlementParameters/SecuritiesTransactionType codes: Repo Opening SettlementTypeAndAdditionalParameters/SecuritiesMovementType: Delivery (DELI) SettlementParameters/SecuritiesTransactionType: Repo (REPU) Repo Closing SettlementTypeAndAdditionalParameters/SecuritiesMovementType: Receive (RECE) SettlementParameters/SecuritiesTransactionType: Repo (REPU) Reverse Repo Opening SettlementTypeAndAdditionalParameters/SecuritiesMovementType: Receive (RECE) SettlementParameters/SecuritiesTransactionType: ReverseRepo (RVPO) Reverse Repo Closing SettlementTypeAndAdditionalParameters/SecuritiesMovementType: Delivery (DELI) SettlementParameters/SecuritiesTransactionType: ReverseRepo (RVPO) TriParty Repo Opening SettlementTypeAndAdditionalParameters/SecuritiesMovementType: Delivery (DELI) SettlementParameters/SecuritiesTransactionType: TriPartyRepo (TRPO) TriParty Repo Closing SettlementTypeAndAdditionalParameters/SecuritiesMovementType: Receive (RECE) SettlementParameters/SecuritiesTransactionType: TriPartyRepo (TRPO) TriParty Reverse Repo Opening SettlementTypeAndAdditionalParameters/SecuritiesMovementType: Receive (RECE) SettlementParameters/SecuritiesTransactionType: TriPartyReverseRepo (TRVO) TriParty Reverse Repo Closing SettlementTypeAndAdditionalParameters/SecuritiesMovementType: Delivery (DELI) SettlementParameters/SecuritiesTransactionType: TriPartyReverseRepo (TRVO) Securities Lending Initiation SettlementTypeAndAdditionalParameters/SecuritiesMovementType: Delivery (DELI) SettlementParameters/SecuritiesTransactionType: SecuritiesLending (SECL) Securities Lending Return SettlementTypeAndAdditionalParameters/SecuritiesMovementType: Receive (RECE) SettlementParameters/SecuritiesTransactionType: SecuritiesLending (SECL) Securities Borrowing Initiation SettlementTypeAndAdditionalParameters/SecuritiesMovementType: Receive (RECE) SettlementParameters/SecuritiesTransactionType: SecuritiesBorrowing (SECB) Securities Borrowing Return SettlementTypeAndAdditionalParameters/SecuritiesMovementType: Delivery (DELI) SettlementParameters/SecuritiesTransactionType: SecuritiesBorrowing (SECB).